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Share Name | Share Symbol | Market | Type |
---|---|---|---|
LandBridge Company LLC | NYSE:LB | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-2.47 | -7.93% | 28.69 | 32.09 | 28.019 | 31.16 | 436,162 | 20:15:59 |
U.S. retail sales experienced a more-subdued performance in September after two months of strength as back-to-school buying wound down and shoppers took a pre-holiday breather.
Costco Wholesale Corp. (COST) posted a 5% rise in U.S. same-store sales minus gasoline, when 5.1% was expected. By category, food posted growth in the mid-single digit percentage range, with the strongest results in the category coming from candy, deli and liquor. Growth was also recorded by health and beauty, automotive, consumer electronics and hardware. Small appliances, home furnishings and women's apparel also did well. On a regional basis, Texas, the Southeast and the Midwest posted the strongest results, while comparable-store traffic was up about 4% year-over-year.
Limited Brands Inc. (LTD) reported same-store sales rose 5%, when 4.3% was expected, continuing a streak of beating expectations. The retailer was helped by strong sales at its Victoria's Secret chain, which posted a 6% increase in comparable sales, though Bath & Body Works also reported strong results, with a 5% increase when 2.5% was expected.
The 17 retailers tracked by Thomson Reuters are expected to report 1.6% growth in September same-store sales, or sales at stores open more than a year. This compares with an increase of 5.5% a year ago. Retailers posted a 4.8% rise in July and a 6.1% gain in August.
"Consumers shopped early for back-to-school to take advantage of favorable weather and aggressive promotional activity," said Deborah Weinswig, retail analyst at Citigroup.
Department-store chain Stage Stores Inc. (SSI) reported an 11.1% rise in same-store sales when a 2.7% gain was expected. Every merchandise category marked a comparable-store sales increase, with footwear, home and gifts, junior sportswear, misses sportswear, petites and plus sizes leading the way. Geographically, the South Central, Southwest and Northeast regions all outperformed, the company said.
Wet Seal Inc. (WTSLA) posted a 12.7% drop in comparable-store sales when a 15.5% decline was projected. Wet Seal is in the midst of a proxy battle with hedge-fund manager Clinton Group Inc., which wants the company to sell itself. Fellow teen retailer Zumiez Inc. (ZUMZ) reported a 5.6% rise in same-store sales when 3.1% was expected, helped by higher prices.
September same-store sales at teen-apparel retailer Buckle Inc. (BKE) fell 0.8% compared to the year-ago period, while an increase of 1% was expected. Overall transaction values for September were up about 3%, but the company's biggest category, women's, saw sales fall. Casual bottoms, woven tops, active apparel, accessories and footwear were strong performers. While men's total sales were up 2.5%, overall prices were down about 2%. Strong men's categories included denim, knit shirts and accessories.
Write to Karen Talley at karen.talley@dowjones.com.
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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